REGISTERED COMPANY NUMBER: 03849276 (England and Wales) REGISTERED CHARITY NUMBER: 1089878
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2024
for
The Millennium Centre (St. Helens) Ltd
GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF
The Millennium Centre (St. Helens) Ltd
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
The Millennium Centre (St. Helens) Ltd
Report of the Trustees
for the Year Ended 30 September 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03849276 (England and Wales)
Registered Charity number
1089878
Registered office
The Millennium Centre Corporation Street St Helens Merseyside WA10 1HJ
Trustees
Mr A N Richards Mr N Wilding Mr R W Barton (resigned 19.8.24) Mr P C Girling Mr R Watson (resigned 1.5.24) Mr A Jones (resigned 11.12.23) Mr J Woods Ms A Humphreys (resigned 3.4.25) Dr M El Sheshtawy Nasr Mr P Winstanley (appointed 26.7.24)
Independent Examiner
Sarah Nichols GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Mr A N Richards - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Millennium Centre (St. Helens) Ltd
Independent examiner's report to the trustees of The Millennium Centre (St. Helens) Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Nichols
GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF
Date: .............................................
Page 2
The Millennium Centre (St. Helens) Ltd
Statement of Financial Activities
for the Year Ended 30 September 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Management charges Millennium Centre Tenants Investment income 2 Total EXPENDITURE ON Charitable activities Management charges Millennium Centre Tenants Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 61,534 - - 131,106 192,640 7,874 - 105,125 112,999 79,641 1,241,143 1,320,784 |
Restricted funds £ (1) 50,845 610,208 - 661,052 - 605,440 - 605,440 55,612 248,637 304,249 |
30.9.24 Total funds £ 61,533 50,845 610,208 131,106 853,692 7,874 605,440 105,125 718,439 135,253 1,489,780 1,625,033 |
30.9.23 Total funds £ 110,718 40,587 490,011 73,793 |
|---|---|---|---|---|
| 715,109 | ||||
| 26,002 486,359 99,497 |
||||
| 611,858 | ||||
| 103,251 1,386,529 |
||||
| 1,489,780 |
The notes form part of these financial statements
Page 3
The Millennium Centre (St. Helens) Ltd
Balance Sheet
30 September 2024
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 292,409 100 292,509 (59,570) 1,184,459 1,124,889 (96,614) 1,028,275 1,320,784 1,320,784 |
Restricted funds £ - - - 304,249 - 304,249 - 304,249 304,249 304,249 |
30.9.24 Total funds £ 292,409 100 292,509 244,679 1,184,459 1,429,138 (96,614) 1,332,524 1,625,033 1,625,033 1,320,784 304,249 1,625,033 |
30.9.23 Total funds £ 324,468 100 324,568 267,032 961,621 1,228,653 (63,441) 1,165,212 1,489,780 1,489,780 1,241,143 248,637 1,489,780 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
The Millennium Centre (St. Helens) Ltd
Balance Sheet - continued
30 September 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr A N Richards - Trustee
The notes form part of these financial statements
Page 5
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Land & buildings | - 10% on cost and in accordance with the property |
|---|---|
| Fixtures and fittings | - 10% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rental income Investment income |
30.9.24 £ 82,023 49,083 131,106 |
30.9.23 £ 41,446 32,347 |
| 73,793 |
Page 6
continued...
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.9.24 | 30.9.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 29,110 | 32,972 |
| Deficit on disposal of fixed assets | 401 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Management charges Millennium Centre Tenants Investment income Total EXPENDITURE ON Charitable activities Management charges Millennium Centre Tenants Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
Unrestricted funds £ 110,718 40,587 - 73,793 225,098 26,002 - 99,497 125,499 99,599 1,141,544 |
Restricted funds £ - - 490,011 - 490,011 - 486,359 - 486,359 3,652 244,985 |
Total funds £ 110,718 40,587 490,011 73,793 |
|---|---|---|---|
| 715,109 | |||
| 26,002 486,359 99,497 |
|||
| 611,858 | |||
| 103,251 1,386,529 |
continued...
Page 7
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ TOTAL FUNDS CARRIED FORWARD 1,241,143 248,637 6. TANGIBLE FIXED ASSETS Fixtures Land & and Motor buildings fittings vehicles £ £ £ COST At 1 October 2023 541,705 189,784 18,729 Additions - 4,952 - Disposals - - (18,729) At 30 September 2024 541,705 194,736 - DEPRECIATION At 1 October 2023 321,712 93,210 10,828 Charge for year 15,318 13,792 - Eliminated on disposal - - (10,828) At 30 September 2024 337,030 107,002 - NET BOOK VALUE At 30 September 2024 204,675 87,734 - At 30 September 2023 219,993 96,574 7,901 7. FIXED ASSET INVESTMENTS 30.9.24 £ Millennium Centre Trading Ltd 100 There were no investment assets outside the UK. Investments (neither listed nor unlisted) were as follows: 30.9.24 £ Millennium Centre Trading Ltd 100 |
Total funds £ |
|
|---|---|---|
| 1,489,780 | ||
| Totals £ 750,218 4,952 (18,729) 736,441 425,750 29,110 (10,828) 444,032 292,409 324,468 30.9.23 £ 100 30.9.23 £ 100 |
continued...
Page 8
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Accrued expenses 10. MOVEMENT IN FUNDS At 1.10.23 £ Unrestricted funds General fund 1,241,143 Restricted funds Millennium centre phases I & II 195,155 Millennium house 53,482 248,637 TOTAL FUNDS 1,489,780 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 192,640 Restricted funds Millennium centre phases I & II 525,110 Millennium house 135,942 661,052 TOTAL FUNDS 853,692 |
30.9.24 £ 216,567 28,112 244,679 30.9.24 £ 28,428 1,761 64,325 2,100 96,614 Net movement in funds £ 79,641 (50,664) 106,276 55,612 135,253 Resources expended £ (112,999) (575,774) (29,666) (605,440) (718,439) |
30.9.23 £ 258,423 8,609 267,032 30.9.23 £ 22,455 1,641 37,245 2,100 63,441 At 30.9.24 £ 1,320,784 144,491 159,758 304,249 1,625,033 Movement in funds £ 79,641 (50,664) 106,276 55,612 135,253 |
|
|---|---|---|---|
continued...
Page 9
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Millennium centre phases I & II Millennium house TOTAL FUNDS |
At 1.10.22 £ 1,141,544 267,619 (22,634) 244,985 1,386,529 |
Net movement in funds £ 99,599 (72,464) 76,116 3,652 103,251 |
At 30.9.23 £ 1,241,143 195,155 53,482 |
|---|---|---|---|
| 248,637 | |||
| 1,489,780 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Millennium centre phases I & II Millennium house TOTAL FUNDS |
Incoming resources £ 225,098 389,640 100,371 490,011 715,109 |
Resources Movement expended in funds £ £ (125,499) 99,599 (462,104) (72,464 (24,255) 76,116 (486,359) 3,652 (611,858) 103,251 |
Resources Movement expended in funds £ £ (125,499) 99,599 (462,104) (72,464 (24,255) 76,116 (486,359) 3,652 (611,858) 103,251 |
|---|---|---|---|
| 3,652 | |||
| 103,251 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Millennium centre phases I & II Millennium house TOTAL FUNDS |
At 1.10.22 £ 1,141,544 267,619 (22,634) 244,985 1,386,529 |
Net movement in funds £ 179,240 (123,128) 182,392 59,264 238,504 |
At 30.9.24 £ 1,320,784 144,491 159,758 |
|---|---|---|---|
| 304,249 | |||
| 1,625,033 |
continued...
Page 10
The Millennium Centre (St. Helens) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 417,738 | (238,498) | 179,240 |
| Restricted funds | |||
| Millennium centre phases I & II | 914,750 | (1,037,878 ) | (123,128) |
| Millennium house | 236,313 | (53,921) | 182,392 |
| 1,151,063 | (1,091,799 ) | 59,264 | |
| TOTAL FUNDS | 1,568,801 | (1,330,297 ) | 238,504 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
Page 11
The Millennium Centre (St. Helens) Ltd
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 September 2024 | ||
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 58,405 | 54,480 |
| Other income | 3,128 | 56,238 |
| 61,533 | 110,718 | |
| Investment income | ||
| Rental income | 82,023 | 41,446 |
| Investment income | 49,083 | 32,347 |
| 131,106 | 73,793 | |
| Charitable activities | ||
| Management charges | 50,845 | 40,587 |
| Services charges tenants | 610,208 | 490,011 |
| 661,053 | 530,598 | |
| Total incoming resources | 853,692 | 715,109 |
| EXPENDITURE | ||
| Charitable activities | ||
| Millennium centre tenants cost | 575,774 | 462,104 |
| Millennium house cost | 29,666 | 24,255 |
| Repairs & maintenance | 4,178 | 23,545 |
| Rates | 3,696 | 2,457 |
| 613,314 | 512,361 | |
| Other | ||
| Wages | 49,745 | 33,826 |
| Insurance | 276 | 1,503 |
| Motor and travelling | 2,614 | 2,880 |
| Telephone and office supplies | 3,619 | 6,830 |
| Management and consultancy | 13,122 | 14,621 |
| Legal & accountancy cost | 2,635 | 2,611 |
| Bank Charges | 50 | 54 |
| Sundry expenses | 369 | 849 |
| Memberships | 97 | 743 |
| Computer/Software maintenance | 3,087 | 2,608 |
| Freehold property | 15,318 | 15,318 |
| Carried forward | 90,932 | 81,843 |
This page does not form part of the statutory financial statements
Page 12
The Millennium Centre (St. Helens) Ltd
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
| Detailed Statement of Financial Activities for the Year Ended 30 September 2024 |
||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Other | ||
| Brought forward | 90,932 | 81,843 |
| Fixtures and fittings | 13,792 | 15,020 |
| Computer equipment | - | 2,634 |
| Loss on sale of intangible fixed assets | 401 | - |
| 105,125 | 99,497 | |
| Total resources expended | 718,439 | 611,858 |
| Net income | 135,253 | 103,251 |
This page does not form part of the statutory financial statements
Page 13